Abundance and the inevitability of deflation, bubbles and panics
My last post was designed to offer historical precedent for the rise of China. It might have achieved that. But it raises more important questions. The most important is: how […]
The Long Depression and China today
Looking for historic context for our economic views is a common means to root our observations in a stronger foundation. Such a framework can be problematic because the structures of […]
Savings is the smoking gun
This post follows from my first post on the Australian dollar and its positive impact on the Australian economy. One of the interesting points about the debate around the Australian […]
The Australian dollar: A performance enhancing drug
A weaker dollar has been the continual plea from policy-makers, commentators and business people in Australia for the last three years. Indeed, it’s a consensus view. The Australian dollar is […]
The BOJ becomes the Bank of Emerging Markets
“Japan must remain at the centre of the Asian-Pacific century. If Japan alone continues to look inward, we will have no hope for growth. This is our last chance. If […]
Quantitative evidence for a post-capital China
Thank you very much, St Louis Federal Reserve. Thank you very much. A recent paper from the St Louis Fed by Xin Wang and Yi Wen has made the empirical […]
Change requires institutional reform: it can’t come soon enough
There is a chasm between Europe, represented by Brussels and its constituency in the peripheral economies. It is starkly highlighted by the spectacle of Olli Rehn, the Commissioner for Economic […]
